The document discusses various aspects of instrument validity and reliability that must be established when developing a new assessment tool. It defines reliability as the stability and consistency of a measure, and validity as how well a measure captures the intended construct. It describes different types of validity such as face validity, convergent/concurrent validity, discriminant validity, and predictive validity that should be evaluated using data like expert ratings, comparisons to other measures, and longitudinal outcomes. Establishing reliability is a prerequisite before validity can be assessed.